Mansion One

Mansion One, a redevelopment project of the former Northam Tower office lots to suites and hotel rooms. It is located along Jalan Sultan Ahmad Shah in Georgetown, the 31-storey Mansion One comprises 277 suites and 110 hotel rooms. The suites comes in one bedroom to three bedrooms with built-up area ranging from 581 sq.ft. to 1,470 sq.ft.

73 comments

An old building to be refurbished. New developers with no proven track record...

July 24, 2011 at 1:35 AMAnonymous

Penang propeties is boom. It is almost sold out all the unit when I visit to the Propeties fair at Gurney. Maybe the location is so actrative.

July 24, 2011 at 11:37 AMconcern

DON’T BE FOOL, mostly developer or their works would keep good unit for certain of time then release it to market thats the way they earn pocket money or their tactics for “ALL DEVELOPERS”, don’t believe me just focus a few units after 6mth – 1 year go there and have a look will know it.

July 24, 2011 at 1:49 PMLynn

concern,you can no believe the true. But the real is,this project good unit was already fully sold out.

cause one of my friend is the sales staff for this project.

when i wanna grab myself for another one unit,tats grab by other buyers oready.

i can't expect this project was so hot cake!

July 24, 2011 at 2:12 PMLeong

Well, i was one of the purchaser on 1st day of Star Prop Fair. Then i went over to Northam Tower to have a look at the actual units. Saw with my own eyes 5 units slot sold via phone call from HenryButcher team at the fair. Then another 7 units being taken by actual customer on spot. This all happened within 15mins. For me, the main selling point is location, hotel type services and the risk. Risk would mean physical Northam Tower itself is in place, no need piling and etc. Just refurbish it into specs. My 2cents only.

July 24, 2011 at 8:28 PMpenang

eventually when completed, just wonder how many units are available for rental... and still unsure what kind of property is Mansion One classified as in the approved plan. An office or Service Residence? If it is office approval, wld the authority interfere for service residence use. Still grey area.. better check with the lawyer for assurance. Also concern on the wiring and pipping , whether concealed or expose. These makes a lot of difference. My family decided to give it a miss citing there concern.

July 24, 2011 at 9:20 PMcondomana

Hi Lynn and Leong,

Sounds like you guys are very convinced that this project is a good buy, citing words like "fully sold out", "grabbing", "hot cakes", "5 unit sold via phone", "7 units being taken on the spot" etc.

Maybe to convince the readers here, you might want to talk about the "expected" rental yield, or "potential" upside in value, the reasons behind the value upside, etc, rather than saying the reason it's a good buy is because it looks like it is selling fast!!...:D

July 24, 2011 at 10:17 PMLynn

I just feel very fed up with this guy.Why he like always bother bout people sharing...dui!

July 24, 2011 at 11:00 PM陈 贤 德 TAN HING TEIK , P.J.M.

It really sold like Hot Cake in this 4 days Star Property Fair.....it only left around 20% units only.....

July 24, 2011 at 11:15 PMAnonymous

I made a booking on a 1400 sq feet 3room unit on the 21st floor for just over 1mil. Visited the show room n now thinking whether i made a wrong decsion to buy. Though the location is good does it warrant these kind of price? Advice pls

July 25, 2011 at 12:18 AMpenang

value psf for an office along this area barely commands RM300 psf. Just because they named it Resort Residence and put in partitions, flr tiles and toilet, it is now asking for above RM500 psf?? Whatever, the ceiling height is something can never be improved, todays luxury condo is usually min 11ft and above....which gives the grand ambience.

July 25, 2011 at 1:03 AMLeong

Hi Condomana / PenangWell, i am skeptical too hence visited the showroom once made the booking.What do you guys think?Also the Sri Perdana beside this project, price just barely made it. Do you know why?

July 25, 2011 at 10:31 AMcondomana

Hi Lynn,

I understand your feelings. Most people don't like it when you walk to them and pour a big bucket of ice-cold water on them..:)

Hi penang,

You have done your homework. I guess if the developer knows how to do it and do it right with good intentions and professionalism, RM500/sqft doesn't sound that unreasonable to me. This is grade A prime location. Great potential.

Take for example, shopping malls. Gurney Plaza is run and owned by Capitamalls with great expertise. They gave it an overhaul with strict rules for the tenants. End up --> success story.

Prangin Mall : Developer more concerned with making quick bucks by selling units to small time buyers. End up --> koyak!

Dear Leong,

Sri Perdana? Oh, the reason price cannot go up is because there are a lot of "Ah Kua" (transvestites) staying there..:) Somehow Penang people don't fancy them...Hmmm.

July 25, 2011 at 11:01 AMLeong

Hi CondomanaThanks for the info.Well, i started late but somehow, everywhere most of the project that i like are sold out or sold out before actual launch. Not keen on Prai side.Put money in FD not earning much.

July 25, 2011 at 11:14 AMpropng

If you are assessing it from office-use perspective, outcome sure not looking positive. The predecessor Northam Tower certainly didn't shine itself, and Gurney Tower >30floor fully seaview, 550sf only selling at 200k, indeed this shows that office spaces have no demand here in Island, and also not supported by good psf. Same faith for Suntech, Ideal Avenue, krystal suites, E-gate, perhaps the future the CEO?. However if you are looking from the residential suites perspective, situation may change. Ultimately Penang economy is supported by industrial and tourism, FTZ and etc, people are looking for a place to stay more than doing small business. KL in contrast is much more stronger in office spaces demand due to better diversities and oppurtunites. Back to Mansion One, location is indeed superb, it is centrally located, easily connecting to georgetown, Pulau Tikus, Tg Tokong, Tg Bunga, and of course just cross the road to gurney drive. In the future, as already announced by CM, there would be one undergroud tunnel connecting exactly from this location to Jelutong highway. That makes the whole things perfect from asessibility perspective. Gleneagle is already well established, and the new block also coming up. The medical staffs could be the potential tenants in the future, as a lot of them need to be under on-call basis, they may consider to stay nearby. MM2H also another potential. The building will be refurnished, and should look new and impressive again. There will be hotel facilties, and also a nice heritage cafe downstair. Compared to Sri Perdana which is already a 15years old (anyway Sri perdana is selling >400psf now), Mansion One is more distinctive choice.

Main Drawback is the price with upfront cash. If you opt for non-furnish, then should be able to get $100/psf rebate. Further 5% + 10%, the unit price should be >=580psf, still much much reasonable as compared to 118@island plaza (>800psf, seaview unit, i saw at property fair, with no car park), sunrise@gurney >850psf, gurney park also >600psf now. Upfront Cash of 35% is the pain, if you want to opt for additional 10% from the initial 5%. Especially its commercial title, may not be protected under HBA. Seriously I have not much data on this point, perhaps somebody can help.

July 25, 2011 at 11:26 AMpropng

Another thing i forgot to mention is the commercial portion. Follow the Winning Formula of high appreciated property In Island, people prefer to stay within close-range, beter within walking distance to established commercial centres. Eg. Bayswater (tesco, egate), Baystar, gold coast, putra place (queensbay), gurney park(Gurney plaza), Tg park (island plaza), The Brezza (Straits Quay mall, tesco), and much more. Mansion One has none yet...but anybody knows whether the shopping comleplxes still under operation in Gurney Tower? I went there since >10years ago.

July 25, 2011 at 3:16 PMkucing

I heard that the owner / developer are in fact the same people behind Ideal Group (Yes! They use other name to play this time, after closing down Fu Huat, Crsytal or WTF etc )... If this is true, then you make your own judgment !

July 25, 2011 at 3:20 PMkucing

I simply worry those grabbed the "hot cake" with 5 units / 7 units per whack will be in "hot soup" in 2-3 years time ...Recently I came across a bank auction advertisement that at least 10 "biji" CEO office suite is for auction now !! No joke, google it yourself !!

July 25, 2011 at 3:37 PMpropng

They are still in the process of finalizing panel banks and also loan packages. The more reputable banks such as OCBC, Public, and perhaps Hong Leong banks are normally more careful when selecting a developer to partner with. If they only manage to get affin, alliance, or Ambank then need to be careful. This can be used as one of the deciding point as well.

July 25, 2011 at 8:27 PMAnonymous

As far as i know, the panel banks are Public, UOB, HSBC, that what i know, dont you think this are small banks, they cant be so.. wrong, moreover where in the heart of Georgetown can we be blessed with such elegance Residence suites plus a hotel of 5 star status tag in together, i can say it's a good investment in the long term.It's only we have people who cannot or dont have the means to invest will have very very negative perception about the place.Successful people uses their mind to decide rather than just listening to people who say negative things more than the positive side of it. Feel sorry for those group of people.

July 25, 2011 at 8:38 PMAnonymous

The right place to stay short or long term for medical tourism right next to the Gleneagle hospital especially the Indonesians who like our medical expertise of Penang, good investment renting it on a long term basis for the family members of those who are here to seek treatment, a walking distance to GMC, Loh Guan Lye, Island, Adventist, also for student from our neigbour countries who can rent on a yearly basis, close to a few colleges. In fact i see some doctor booking some lots as an investment, they ( Dr) cant be so wrong.

July 25, 2011 at 11:27 PMkucing

This "Anonymous" sounds like a complete novice in property Investment !!

For those old timer investor, they would have well remembered the once biggest developer in Penang during 90s... Penas Group, who liked to paint the best ever picture in their property launches, i.e. 4 seasons theme shopping malls here lah, multi culture theme shops there lah, self proclaim their project as the biggest project in Malaysia lah, and alomst boast the property will provide service for washing "ku ku" for you ... (sorry cheap dirty joke :) )Now, take a look at the state of their Mega-projects ... I can't help but fearing that the history is bloody repeating itself !

My honest advice to those newbies out there :- Rule no.1 :- Never ever trust a developer's bull shits during property launch !Rule no.2 :- You can forget Rule no.1 but still don't trust developer's bull shits.(as I don't want to bore you with "don't forget rule no.1" stuff as you might expected from me )Talk is one thing, delivery is another. Check who is the developer first ! (and who is behind ! their track record !)

To Those fresh-&-waiting-to-be-slaughtered innocent lambs out there, now go back home, take off your dirty panties and get a good sniff (sorry cheap joke again), maybe that could help you think properly :- property price can only shoot UP forever non stop ? There are only winners in property investment and no losers ? Then how come we have sup-prime crisis in US ?

I, in fact, went to this sucker's property fair in Gurney and what I see are tonnes of innocent lambs acquiring peoperty at 500-1000 psf which has yet to be built, can't wait to be slaughtered in 2-3 years time for sure !!

Lastly, i like this innocent Anonymous' statement that "Dr can't be so worng" in buying One mansion. You really make my day ! Tell you this true fact, ok ? During sub prime crisis in 2008, few Dr. / specialists got badly burnt by investing in US bonds and lost multi millions. In case, you do not know, "Soh Chai" Drs makes their money from treating patients not from investment. Further, renting to patients seeking treatment ? + + students ? ? Oh my god !! These are the group of tenants you shall avoid at all cost if you are an experienced property landlord !! How much can you get from renting to students ? How good they would take care of your property ? What if the patients who rented your place pass away in your unit ? how are you going to collect your rent ? Who else want to rent from you next if the previous tenants are patients (and don't what disease he suffered from) ?

July 26, 2011 at 7:34 AMHard facts

Come on, pls provide hard facts on the good vs bad side.

No point arguing based on mere speculation and personal thoughts.

July 26, 2011 at 7:34 AMRafael

If this project is similar to Orchard road selling RM1000 per sqft confirm I buy without hesitation. Look around you with this road. Any shopping attraction? any food attraction? any high paying job opportunity attraction (minor only)? any tourist attraction? If you want to make Mansion One as your own office or place to keep your mistress by all means should be a good investment. Other than that I don't know what can you do with it.

July 26, 2011 at 10:39 AMcondomana

Dear Anonymous (by the way, can the blog admin pls turn off this Anonymous button before we get too many Anonymous here),

I don't know what to say about you lah. You sound too eager to defend this project. That makes you look like either an "Ideal Staff" or a buyer who has already blindly placed his deposit (the latter being less likely as you actually get a refund if you decide to cancel before you sign the S&P).

Anyway, the words you used like "elegance" & "5 star" are not appropriate at all, even the sales people don't dare to quote "5 star". I think they were already pushing it when they use the word "4 star" as the buyers might actually end up with "0 star" few year later...:D

But to be fair, one thing you said is very true....."Successful people uses their mind to decide rather than just listening to people....". But unfortunately after that you contradicted yourself by saying "In fact i see some doctor booking some lots as an investment, they ( Dr) cant be so wrong." Sigh!

Dear kucing,

Oh yeah, Penas group. Eehh...which one of their properties offer ku ku washer ah? Any gadgets for the ladies?..;)

Well, no doubt, the brothers have been criticized again and again, project after project for the lack of quality in their developments, but I think it is only fair to give them credit for the fundamental development of Gurney Drive, the pride of all Penangites. Without Gurney Plaza, G hotel, Silvertone, Gurney Beach etc, Gurney Drive would not have been what it is today. They have provided the nucleus of growth in Gurney for many years to come. If one day Gurney becomes what Orchard Road is to Spore, I hope we should never forget their role in Penang history...:) cheers!!

Dear Hard facts,

You are right. Let's get down to facts. Hmmm.....where would you like to start first?

July 26, 2011 at 11:20 AMHard facts

1. How much you know about the developer Magna Putih? Pls don't shoot straight away by pointing at Ideal.2. Ideal: History vs present Ideal?3. Location of the project.4. Demand of the location. Present vs future.5. Price/sqft vs ROI of the project.6. Surrounding projects Price/sqft vs ROI.7. Facility of the project. How much research have you done? Pls don't merely speculate.8. Project packages to buyers. How much have you researched into this?9. Material of refurbishment. How much research have you done? Pls don't merely speculate.10. Banks support for this project?11. Commercial title for residential suite. Pros vs cons.

July 26, 2011 at 11:45 AMkucing

Ha Ha, Condo-mana, masih cari cari condo ?

Well in fact i can share with you what i know :-

Gurney Plaza, Gurney Beach Resorts, G Hotel were not developed by Penas ! You must be able to tell between these 2 brothers :- Penas was owned by Goh Choon Lai, whereas C.A.Goh group (as they don't have an indentity and have many companies to "play" around) is owned by Goh Choon Ann. Let me list down the failed project that turned into toxic assets by Penas :- Mega Mall, Prangin Mall, One Stop midlands park, BJ Kompleks ... (well, what else ?) I know few loyal followers of Penas project during 90s who "sapu" their shop lots are now have to report to Bankruptcy office every month !(if not bankrupted by bank instalment then bankrupted by their maintenance charges - as high as RM1.00 psf !)

In fact Gurney Plaza & G Hotel was first initiated by Penas & C.A Goh but later run into financial hardship in 1998 crisis and sold off to a Singaporean company and later they make a fortune by selling to Capital Malls ! Only Foreigners have such deep pocket to transform this "kiam siap" penang kampung into so called "luxurious global city" !

Anyway, the point I making here is, I see the risk is getting higher and higher nowadays bearing in mind the property price already surge 50-100% in the past 3 years, and a correction is long over due ! Unless the new project is developed by a deep-pocket or cash-rich developer who do not over-gear their balance sheet, then keep your cash and sideline !!

Come back to this One Mansion again, I understand the owner is from Ideal Group, as I mentioned before they are the same persons who have been holding Fu Huat, Rich Focus, Crystal etc. Last I check with my lawyer/banker of whereabout of those companies, they are either defunct, wound up or gone forever... leaving some of their old projects without strata title and the sub-sale owners have hard time selling their properties !! (sth like Penas of yesteryear !)Those bought CEO or strata units by Ideal, better beware of this precedent !!

Now again they use other name "Magna Putih" to play around ... Ask yourself this question :- if you really a good branded developer (like IJM, E&O,) , do you need to use different names to develop one project at a time ?

My intention here is novel and not meant to discredit anybody but to save some lives !!

July 26, 2011 at 11:55 AMkucing

Hard facts, thanks for your contribution.

I think the most deciding point is none other than "money money money" !

Meaning whether this developer has the deep pocket or no-over-gear balance sheet to execute what they promise ?Whether they will short-change you in material in order to save cost etcRemember when you see the beautiful pictures printed in their brochure and also read the small print there stated "only artist's impression and subject to CHANGE" Yes, they are merely "artist's impression"

My main concern is not that every developer are running business of cheating public, but if time is really bad, (recession, over supply, purchasers default in paying instalments/progress payment) a good guy will also turn into bad one in order to safeguard their own rice bowl first !

July 26, 2011 at 12:08 PMPPP

I agree with anonymous that the we can get rental from renting the condo to the patient's relative. Once my relative was hospitalised in KL hospital, and his sons and daughter fork out about rm5000 for a 1000sq ft apartment so that they can be close to their parents. And they rent the unit for 6 months.

July 26, 2011 at 2:25 PMpropng

well guys, looks like we do not have a very fruitful discussion here. We should learnt how to respect people having different opinions instead of turning this forum into a criticising warfare. Lets get back to the basis of discussion - is this a worth-while project? In summary, everyone thinks that the Developer is the weakest link, neither Magna putih nor Ideal is able to provide any sense of assuarance in terms of delivery and quality. Other factors such as location, facilties, and assessiblity came with mix opinions, alot to do with individual preference anyway. Seems like the only option is to purchase from "Reputable" developers, then again this comes with a price. The light waterfront? Seri Tg Pinang? The Icon? Even reputable developers using subsidiarias as well, IJM's Jelutong Development, Mahsing's Klassik Tropika, Sp Setia's Setia Indah. They also can walk-away if any screw-up in their subsidiary's project.

July 26, 2011 at 4:39 PMkucing

I just wish to sum this up in one sentence :- "Be fearful when others are greedy !"The golden rule applicable in any investment !

If you could buy at fire-sale price later why rush in to buy now ?

July 27, 2011 at 10:53 AMAnonymous

facts are:Magna Putih = Ideal and they went through hell the get their loan approval to purchase this building. took them 3 years time to complete the S&P cause there are no bank would like to fund them. wonder how they manage to get their loan approval from RHB.the current condition for northam tower i heard from some tenants, leakage seems more like a problem there, they had pools in their office during heavy rain. i doubt this leakage prob can be fixed completely during the refurbishment. some current tenants in the building is suing magna putih cause they asked all tenants to vacant the block in 3 months time, wonder how they will settle this prob also. the current plan for the building is one toilet at each floor each block, piping is sure going to be a big issue here for their current plan. considering the facts I have in hand, this mansion one seems like a risky investment, unless you have a very deep pocket and a team of lawyer to help you solve any prob in the future.

July 27, 2011 at 3:40 PMcondomana

wah....still not done slaughtering magna putih and mansion one!?

I think whatever can be said has been said, whatever warning can be given has been given, thanks to all the kind hearted bloggers who made their contributions here, despite the risk of being called party poopers or "kay poh chee" (busybody).

The final decision still lies in the hands of the potential purchasers. I look forward to seeing everyone back here 3 years later, then we all can have another round of post-mortem debate.

All hail capitalism! All hail greed! as without greed and bubble there will not be opportunity to buy undervalued asset. Let the cycle repeat itself. God Bless the Free Market!!...:)

July 27, 2011 at 5:38 PMkucing

Lastly, I just wish to add one humble opinion :- I think the window of opportunity to make a killing from new lauched property has gone, there is, when the property price was stagnant or being dumped during sub prime crisis in 2008, those greedy and "sapu" at cheap at that time are now laughing all the way to luxurious spa to have their "ku ku" washed by pretty girls (sorry, cheap dirty joke again :)

At this over-optimistic environment time, where new lauch apartment offering 650 - 1000 psf and more and more ignorant people coming to property market thinking property investment is sure-win-cash-printing-play, the risk is relatively higher ! I affraid that will be the price for the next 5-10 years ! Those over-geared will be considered lucky if not ending up reporting to bankruptcy office when the next crisis HIT !!

July 27, 2011 at 8:13 PMpetestop

kucing and condomana,

Thanks for your great advise!

I also feel the current property market is in the stage of "irrational exuberance".

Many people jumps in firstly due to the easy credit bcoz of the current monetary policies (10% margin of finance, low BLR, etc), also due to the "kiasu" factor, as they fear that if they don't buy now, they will never able to afford one later.

But all these going to change, BLR is inching up, slowly but surely, and many people will be trapped with servicing high interest rates, while the rental yield can't even cover.

Still many big branded developers are setting up tents in Penang, as if this musical chair will continue forever.

When the music stops, the final guy holding the property will be the biggest sucker!

Cheers

July 29, 2011 at 9:03 AMpenang

Propng, big boys like IJM, S.P. Setia and Mahsings are all listed co and Class A company. How to compare with this kids Magna Putih with no track record and Ideal which has EXCELLENT reputation for cutting corner and keep changing plans even to increase profit after sales launch. Visit Ideal's project blog and see the comment for yourself. Many are already being fleece and latest is The CEO.

August 3, 2011 at 6:44 PMAnonymous

HelloAny investor here invited for the appreciation dinner on 4th?

August 5, 2011 at 1:07 PMAnonymous

Have to agree with Penang but what about the One Residence? Satu, Dua & Tree Residency?

August 11, 2011 at 7:57 PMpenang

Satu, Dua & Tree although have very good sales but yet to be delivered. Nice pictures and show units do not represent good quality delivery. Also strata titled properties are high risk especially when buying from bad reputation developers. Latest in the market in that developers sold same units multiple times, cheat the banks and buyers. Ask the bankers and listen to what they say abt latest news in town abt strata titled properties.

September 8, 2011 at 1:19 PMthshome

According to them & banker is 0% interest during construction. I had booked an unit of 863 sqf during raya. Most of the nice units already taken out especially higher floors. Regret or not need to wait 2-3 years, god bless all of us - the buyers!

September 8, 2011 at 5:12 PMv

i'm from kl and moved to Penang since Jan. I'm in property line for 6 years. i don't agree you guys buy it due to overprice, overrated, and no rental return because of Penang doesn't have business opportunity like KL to attract people from overseas and out state. what is the occupancy rate for each condo? take a ride from gurney to tanjung bungah, check out all the condo how many unit has turn on the lights for each condo. Please share your result with us :)

September 9, 2011 at 2:46 AMpgkia88

V, if KL is so full of business opportunity, why do you need to come to Penang?

September 9, 2011 at 10:05 AMcondomana

Hi pgkia88,

You asked a stupid question. Pls change your name from pgkia88 to gongkia...cheers!..:D

September 9, 2011 at 10:59 AMPenang

Hmm....i can’t say what V said is totally wrong. But having in Pg for such short period won’t give u much in-depth in our opaque market....u r yet to feel the real pulse here. KL is not Pg and vice versa. Our rental yield is always low even b4 2008!

There are many foreign condo buyers, KL buyers and overseas working locals who just invest and used once/twice a year...that’s explain why not many lighted. If you have many friends staying in such condo u will know.

Unlike KL, we received limited support from Federal and do not have any Mega projects. Pg is driven by different factors for growth needless for me to elaborate eg. FTZ, medical tourism, MM2H etc.....the Chinese factor too.

If outlook is so gloomy here, why would the KL based developers Berjaya land, Sime (thru backdoor E&O) YTL, SDB, Mutiara GoodYear, etc (not to mentioned SP setia, MS, IOI) want to come here especially on Island side, recently? I don’t think our poor (in term of $$$$ not talent+CAT) state govt can lure them with any sweetener, right?

I don’t want to indulge too much here as I am not here to support this project (which I personally do not buy and no interest too) but to defend what is right and not paint PENANG as a backwater by ppl who have limited info here. While there are some limited risks here and there in some new projects, our overall secondary markets are very solid. Please don’t spread halfcook data to the buyers.

Think before you say..... 

September 9, 2011 at 11:47 AMRaymond Yap

To the Chinese, home = family = house. Move the Chinese out from Penang, and you will see the property market collapses. But then, why should we move? This is our home land.

September 9, 2011 at 1:00 PMcondomana

Dear Penang,

Don't get too happy when these KL companies come and buy our land. GLCs are conspiring to hog land here, to make the people unhappy when they no longer can afford decent housing.

The state is still happily selling precious land away, being friendly to these GLC developers, not knowing the ulterior motive. And before DAP realize it, voters have turned their backs against them...:)...how do you think PAP in ultra prosperous S'pore could nearly loose the election if not for housing affordability issues!!

September 9, 2011 at 1:08 PMpgkia88

Condomana, pathetic losers like you will forever be pathetic. No wonder members above question your credibility and ability to own a property. It makes sense now why you choose a nick as condomana, as you do not have the ability to own a property in our great Penang. Balik KL or Ipoh lar.

September 9, 2011 at 2:59 PMRaymond Yap

I am also a Penang Kia...

I was bornt here, studied here primary & secondary educations, then studied oversea, worked in oversea, came back here, and love this beautiful turtle island even more.

Owing properties in Penang make me feel excited, sense of belonging... I will hold them as long as I can, and if I can afford (the booming price is not that important any more).

I am sure there are many many Penang Kia like me... so, I have full confidence in Penang property, i.e. our lovely Turtle.

September 10, 2011 at 3:01 AMpgkia88

Hi Raymond, those "immigrant" like V and Condomana wont understand our feeling towards our lovely state. Infact i have a lot of relative who have been working abroad for many years, but end up settling down in our lovely state. This shows that Penang is and always will be a place of choice to settle down. The MM2H is also prove that Penang attracts those foreigners who wants to retire here.

Some "immigrants" are just jealous of how great our state is :)

September 10, 2011 at 12:44 PMCK

@penangkia,

Sorry I am itchy to jump in here on your remarks again. You are always right aren't you?

Where is your sense of humor boy? Is this your standard operating procedures? You like to label people don't you?

Big KL developers come to Penang because Penang property prices are much higher than KL?

September 13, 2011 at 12:35 PMthshome

We are here to discuss the Mansion One project, seem like most comments are out of topics. I totally agreed with "pgkia88" that this fellow "condomana" just come & kakacau only, jealous of ppl owning property but he can't.

December 14, 2011 at 6:39 PMPenang - My Favorite Place on Earth

Penang property prices are always higher than average KL except KLCC and Bukit Bintang area and some area. Check out form the Property Buyer magazine and you will know what I am saying.

However, recent Frenzy Heritage(Or old shophouse) has been kiling in the market.

New Developers are also contributing the push up factors whenever there are new launches att he neighbourhood.

December 23, 2011 at 4:14 PMsuten

Hi.... i ard visit the show room... Nice... But does anyone felt that it is too expensive??

December 23, 2011 at 5:42 PMcondomana

Hi suten,

Expensive is one thing, but whether the developer will run away with your money should be your major concern...:)

December 23, 2011 at 7:16 PMpgkia88

So this Condomana still looking for a property after so many years? Why not consider going back to your home state, instead of hanging around in our lovely Penang?

December 23, 2011 at 7:19 PMpgkia88

And another forumer name CK, who have been active in providing his "expert views" in various property forums, but own less than 2 property? Pathetic.

The current price now is around RM730/psf. Anybody know what is the original luanch price?

March 15, 2012 at 1:25 AMfullbiz8

Well,after a long debate on one mansion have you guys actually sum up into a conclusion whether is this project going to work out ?

March 15, 2012 at 9:43 AMtwyeow88

own stay-good

flip upon completion-landed better

hold for rental-below 500k condo/shophouse fronting main road

April 11, 2012 at 8:32 AMCherri

this project is not bad i guess, but my main concern would be that it will become the 'high-class hospital' for those foreigners seeking medical care in Malaysia n 'hotel' to these patients' family. Many low density condos in pulau tikus became like that...nurses of staff of hospitals would rent those condo units and then sub-rent to these patients most indos, on a daily basis...so everyday, 'patient in wheelchair' checking in, afternoon patient in mask 'checking out'...

i've seen that in my fren's condo along lebuhraya codrington. most of the owners are furious, but they still can do nothing to stop other fellow owners to rent out to these nurses and hospital staff...

n they got no choice but to keep quiet....n quietly sell off their own unit n get out frm there... u go out n make noise bout it, price deteriorates summore..

as for this Mansion 1, becoming a luxury 5 star hospital ward for foreign indo patients and hotel to their family...is just a matter of time...

June 25, 2012 at 1:29 PM3

latest =

30% left - especially those facing Galndegles.

Facts befroe you purchase

Indon will stay in RM100 per day flat than this luxury condo.

I heard price has been shifted upwards by developer.

June 26, 2012 at 12:21 AMsmartiesno1

eh! now left 30% (25.06.2012), last time some of the blogger say left 20% (24.07.2011)by Jalan Pergi Mana selling like hot cake & etc.

June 29, 2012 at 12:17 AMah boy

Hi all,this property is come with a commercial title. Can anyone advise what is the disadvantage for this title?Will it affect the property price?It is common to have commercial title for residential property?

July 19, 2012 at 11:43 AMderick otw

if stand on an investor side,its good that there will be alot of tenant to rent the house.

July 19, 2012 at 12:30 PMRaymond Yap

This is commercial property... basically you cannot stop what your neighbour do with his unit, i.e. he can use it for any activities fall under 'commercial'.

October 15, 2012 at 10:24 AMUnknown

Guys, anymore news on this property? I know there are a few units left and wondering if it's still a good buy. I even took a tour of the building and they are definitely working hard to get it refurbish in time for early 2014 launch.

June 23, 2013 at 12:21 PMKing

Just check with the developer, expected completion date is mid 2014, then should need another 3 to 6 months for OC. Looks like by late 2014, buyers can start enjoy the stay there or rent out to make profits.